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We hope everyone had a restful weekend. For many on the east coast, it was a very wet weekend. However, on a positive note, daylight savings happened on Sunday morning. So, time to “Spring forward” and lose an hour – which is fine by us! For this week’s MMNKO post we offer a myriad of industry new stories including updates on GeoEye, DigitalGlobe, Lockheed, Garmin, Intermap, and much more. As we always say, fire up that second cup of coffee and read on!

Garmin Licenses Intermap’s High Quality 3D Terrain Models
Intermap Technologies, a worldwide 3D digital mapping and geospatial solutions company, today announced it has signed an agreement with Garmin Ltd., a global leader in satellite navigation. Under the terms of the three-year agreement, Intermap will furnish accurate 3D elevation data for the United States and Western Europe derived from its NEXTMap countrywide digital map database. Initial Garmin products utilizing NEXTMap data are expected to reach the consumer market beginning in the first half of 2010. “We are very excited to be working with Garmin under this new relationship,” commented Brian Bullock, Intermap’s president and CEO. “Integrating our NEXTMap data with Garmin’s GPS and navigation products has many exciting possibilities that will enhance the consumer experience and the value they receive from daily use of these products. Read the full press release here.

Orbiting Earth 14 Times Per Day, With The Help Of Cerberus
Which company set to receive a Cerberus Capital Management LP investment provides “war fighter applications,” supports a non-profit foundation that promotes human rights and environmental protection, and provides pictures of volcanoes? The answer is satellite imagery company GeoEye Inc. The Dulles, Va., company said Cerberus will buy preferred stock, with gross proceeds potentially as high as $112.1 million. The plan is linked to a bid under a National Geospatial-Intelligence Agency request for proposals; the financing will be used for collateral that would help the company provide a letter of credit that may be required. Read the full WSJ blog post here.

National Geospatial Intelligence Agency (NGA) Exercises Option to Extend NextView Service Level Agreement
DigitalGlobe (NYSE: DGI), a leading global content provider of high-resolution world imagery solutions, today announced that the National Geospatial-Intelligence Agency, or NGA has exercised the option to extend its Service Level Agreement, or SLA, with DigitalGlobe. The option exercise ensures NGA continuity of access to WorldView-1 imagery at $12.5 million per month through June 30, 2010 with six additional options to extend the SLA, each for a one month period, with the last option term expiring on December 31, 2010. Read the full press release here.

Lockheed Martin Division to Build GeoEye2
Lockheed Martin Space Systems Co. will engineer and build the next satellite for GeoEye Inc., a remote imaging company. The Littleton-based division of defense and aerospace giant Lockheed Martin Corp. (NYSE: LMT) won the contract to build GeoEye2, a high-resolution orbiter, for Dulles, Va.-based GeoEye (NASDAQ: GEOY). Contract terms weren’t disclosed. GeoEye collects and sells satellite imagery for mapping, environmental monitoring, national security and other purposes. The company employs more than 500 people, about 130 of whom work in Thornton, where it processes images taken by satellites and monitors the company’s older orbiters. Read the full press release here.

Geospatial Holdings Announces ID-IQ contract Award by DoE Facility
Geospatial Holdings Inc. has been awarded an indefinite delivery, indefinite quantity (ID-IQ) contract to locate and map underground infrastructure at an undisclosed Department of Energy (DoE) facility. The contract announced on Friday, financial details of which were not disclosed, is for a term of one year with an optional one year extension. Here’s the link to the press release.

Happy Monday!

Tags: Cerberus, Department of Energy, DigitalGlobe, DoE, Garmin, Garmin and Intermap, GeoEye, geospatial holdings, Intermap, Lockheed Martin, Lockheed Martin and GeoEye, National Geospatial Intelligence Agency, NGA